Wall St Tower Hits Sales Market at Steep Discount

The 29-story building located at 100 Wall Street has been introduced to the market by Barings, the real estate arm of insurer MassMutual. Last trading in 2015 for $270 million when acquired by Barings’ subsidiary Cornerstone Real Estate Advisors, the approximately $125 million the seller is hoping to fetch a price nearly 54%, or $150 million lower. Currently debt-free and about 75% leased, AFLAC and Trinity Life Sciences are the largest tenants in the 515,000-square foot building located between Water and Front Street. News of the sale comes at a time when “office owners are showing more willingness to sell properties at a discount as declining occupancy rates and higher interest rates have driven down values on buildings — some of which were bought at previous market cycle peaks.”

Source:    https://therealdeal.com/new-york/2024/02/27/barings-eyes-125-million-for-100-wall-street/